Shares of Groupon Inc (NASDAQ: GRPN) soared higher by more than 13 percent early Wednesday morning after the company reported its fourth-quarter results, which may have reassured investors.

Groupon said that it earned $0.07 per share in the fourth quarter on revenue of $934.9 million — good for a top- and bottom-line beat as analysts were expecting the e-commerce marketplace company to earn $0.02 per share on revenue of $912.8 million.

Cash and cash equivalents at the end of 2016 totaled $891.8 million and the company had no outstanding borrowings under its $250 million revolving credit facility.

Management Commentary

"In 2016, our concentrated focus on key strategic initiatives provided a strong foundation for Groupon going forward and resulted in a streamlined global operation, a healthier Goods business, improved customer service and strong customer acquisitions after a successful online and offline marketing strategy," said CEO Rich Williams. "We look forward to continuing to invest in the Groupon brand and unlocking the true potential of our business as we make Groupon the daily habit in local commerce."